Several of my friends, entrepreneurs or not, have more to Texas and it has me wondering what in the world is going on out there. After some research I’m starting to get it. Texas has some of the fastest growing cities in US. Cities like Dallas, Austin, Houston, and San Antonio are seeing increased growth in number of residents. According to figures released by the US Census Bureau, five of the 10 cities that were considered to be growing fast in the period between 2011 and 2012 are in Texas. Here are reasons why all my friends seem to be relocating to Texas.
To Seek Jobs
Joel Kotkin, Chapman University’s professor of urban development in Orange, California points out that, people are not going for weather or topography. The main reason why people move to other cities is to seek employment, and that’s pretty simple. Jobs are in demand and everyone wants to earn a living and feel secure in their finances. The oil and gas boom seems to have helped Texas to grow to an economic juggernaut.
Life is Cheaper
People are seeking for effective paychecks. Some cities appear to be too expensive to live in such as New York and San Francisco Bay Area. On the other hand, Houston is offering the highest effective paycheck among the cities in the nation. The relative low cost of living in regard to consumer prices, transport cost, utilities, and housing prices are driving the increased relocation to the city.
Cheaper Land than Elsewhere
In Texas, land is cheaper, and not only that, the process of acquiring land is quite efficient, according to a research economist at the Real Estate Center at Texas A&M University, Dr. Ali Anari. Homeowners find it easier to own and build homes in this state.
From the time of obtaining a building permit to construction of a home, the process appears quicker than in other states. On top of that, there is abundant land supply often having fewer regulations. The friendly government is also facilitating better business there.
These are some of the reasons why my friends are moving to Texas. They are trying to seek for a balance in cost of living. Some states may have high paying jobs, however, when it comes to cost of living, it is just too expensive for people to live in those states. The paycheck is wiped out by the huge living expenses.
Real estate is also a big contributing factor. Families are striving to own homes and some markets seem to be hindering this progress. People are preferring moving to cities where they can acquire land and build their own without facing too many regulations.